4 Reasons Your Online Store Needs Price Matching
In survey after survey, consumers report that they shop online looking for the best price. According to figures from Thomson Reuters, 44% of online shoppers said they shopped online during the holiday season because they could compare prices across retailers.
Reduce Cart Abandonment
Cart abandonment hugely cuts into potential profits. With price matching, website visitors are much less likely to have second thoughts at checkout that they’re getting the best price. They’ll be more likely to stay on your site and hit that buy button because they won’t feel the need to go online price comparison shopping.
Gain Customer Trust
If you have a price match guarantee, customers will most likely assume you have the best prices out there. That makes shopping easier and quicker for them, meaning they’re more likely to buy, and more likely to remember your site and shop again.
Reduce Your Bounce Rate
They won’t bounce. If you’re promising the best prices, why would a consumer bother to look elsewhere? A price match guarantee can significantly lower your bounce rate.
Give Customers What They Want
Why not give the customers what they want? Customers want price matching. As we said earlier, in survey after survey, consumers say they’re more likely to shop at a business that offers a price match guarantee. Retailers reported in a survey by research firm BDO that the second-biggest reason customers were enticed to buy from them was through price matching. (Free shipping came in first.)
If you’re curious about using price matching to gain customers, you can try a price matching service so you don’t have to do the so-called legwork yourself. For example, 4x Buyer Protection offers a price match guarantee plus shipping insurance, customer identity theft protection and a terms of service guarantee.
Learn more at 4x Buyer Protection.